Cobra's Market View

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Consolidation, breakout on the upside is more likely.

Going to be exciting after the bell. Options people saying market expects a 6.1% price move in NVIDIA. So History says down. Get your popcorn!

Looks like a five wave move. Waiting to see if 6,500 is reclaimed before the close.

On the one hour chart it looks like a cup and handle over the last couple of weeks

Something happened. Plenty of places for the market to reverse, if buyers want to make a stand.

Testing day high, watch for possible double top. My guess is, it's a range day so maybe pullback around the upper blue line to the lower blue line.

Three time frames. All saying the last 10 points to the all time high could be an easy sprint. BUT if NVIDIA disappointing then could be confirmed failed retest of that high. Funds are supposedly all positioning for the August September traditional sell off. So solid guidance from NIVIDIA and the squeeze will be on!

Strong breakout so bias is up.

Consolidation, bias still is up as consolidation usually means continuation.

ES 5 minutes.

Movin' on up. Level to level.

Breakout. Up to resistance. Breakout again.

Nice, bullish behavior.

Consecutive red bars then a biggest red bar so should be a rebound here first after which we'll see. Didn't expect to say such a pullback must be someone said something.

ES 5 minutes.

Pullback to the EMA 20.

But then it breaks on through, moving down sharply.

As we know, it is dangerous out there.

Well, guess that's it for today. Here's what Thursday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449387

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449387